Finland’s first floating storage and regasification unit (FSRU) arrived at the port of Inkoo on Wednesday, where the country has jointly developed a terminal with Estonia to replace Russian natural gas supplies. The Exemplar was partially loaded with LNG to serve as the facility’s commissioning cargo, said vessel owner Excelerate Energy Inc. Gasgrid Finland Oy’s…
Ukraine-Russia Crisis
Articles from Ukraine-Russia Crisis
Russian Pipeline Explosion Fails to Move European Market as JKM Jumps Above TTF
A fatal explosion on a natural gas pipeline in western Russia, which moves supplies to Europe, did little to move prices on the continent after a unit of Gazprom PJSC said deliveries were being rerouted. Three people were reportedly killed and another was injured during maintenance on a stretch of the Urengoy-Pomary-Uzhhorod pipeline in the…
EU Members Agree on Natural Gas Price Cap in Bid to Temper Market Volatility
European Union (EU) members agreed Monday to create a price control mechanism for natural gas traded in the bloc after months of negotiation and debate on whether a policy to protect against market volatility could limit much needed LNG supply. The majority of leadership from the 27-country EU agreed to institute what Czech Industry and…
Germany’s LNG Import Capacity Plan Reaches Milestone with First FSRU Arrival
Germany is preparing for its first of several new LNG import terminals to arrive offshore near the end of the week, marking a milestone in its plan to increase import capacity and cut reliance on Russian pipeline gas. The Hoegh Esperanza, a floating storage and regasification unit (FSRU) owned by Höegh LNG AS, is expected…
JPMorgan CEO Says World Needs Oil, Natural Gas for Decades
For all the concern about climate change – a worry he shares – JPMorgan Chase & Co.’s chief executive said the world’s current and foreseeable energy needs cannot be met without natural gas and oil. JPMorgan’s Jamie Dimon said Russia’s war in Ukraine amplified the significant role of both energy sources. He noted the surge…
JPMorgan CEO says Ukraine War Fallout Proves Essential Role of Natural Gas, Oil
For all the concern about climate change – a worry he shares – JPMorgan Chase & Co.’s chief executive said the world’s current and foreseeable energy needs cannot be met without natural gas and oil. JPMorgan’s Jamie Dimon said Russia’s war in Ukraine amplified the significant role of both energy sources. He noted the surge…
Trafigura Reports Record $7B Profit Despite Decline in Oil, LNG Trading
Commodity trader Trafigura Group Pte. Ltd. said Thursday the outage at the Freeport LNG terminal in Texas has removed much needed supply and “significant flexibility” from its portfolio, but said the scale of its operations have offset issues and helped it turn in record profits for 2022. Trafigura, a dominant trader in the global liquefied…
Deep Freeze Arrives in Europe, Pushing Natural Gas Prices Higher – LNG Recap
Bitter cold forecast for parts of Europe this week is set to bring the first major test of the winter heating season for the continent’s gas market and its robust storage inventories. The UK’s National Balancing Point and the Dutch Title Transfer Facility (TTF) both gained about 3% on Tuesday and settled above $40/MMBtu. The…
Germany’s Uniper Moves to Recover Natural Gas Losses from Russia’s Gazprom
Germany’s recently nationalized utility Uniper SE, previously one of Europe’s largest buyers of Russian pipeline natural gas, is moving to recover some of its monumental losses from Gazprom PJSC while it continues to divest from the country. Uniper management announced in Düsseldorf Wednesday the company is pursuing arbitration to recover damages from Gazprom it claims…
EU Leaders Unveil ‘Safety Ceiling’ to Protect Against Volatile Natural Gas Price Swings
The European Commission (EC) has proposed a bloc-wide ceiling on natural gas prices linked to Europe’s benchmark in an effort to stanch massive financial volatility, potentially sending ripple effects across global gas markets. In a proposal outlined by the European Union’s (EU) executive branch Tuesday, the Commission could institute a “safety price” mechanism by the…